By Kumar
Publication Date: 2026-05-06 02:58:00
The rapid growth of artificial intelligence is taking a heavy toll on the workforce, with IT giants not shying away from announcing massive waves of layoffs without hesitation. A few weeks ago, Oracle reduced its workforce in a mass layoff that is believed to be the largest in the company’s history.
Following this example, another IT giant is now preparing for a similar exercise. A large number of Indians are likely to be affected this time as Cognizant is reportedly planning to lay off around 12,000 to 15,000 employees as part of a major restructuring exercise under Project Leap to cut costs through downsizing.
Recently, the Nasdaq-listed company officially announced that the company will incur severance costs of $230 million to $320 million as part of its new initiative. However, no official figures on job losses have been released. But industry experts believe the number…